Moderna Receives HHS Grant to Develop Human H5N1 Vaccine

Moderna will get 176 million dollars in federal funding from the Department of Health and Human Services to develop a human vaccine against Highly Pathogenic Avian Influenza. The grant follows outbreaks of the virus in dairy cattle throughout several states. The U.S. has documented three cases of humans with bird flu so far this year, and all had regular contact with dairy cattle. As of this month, over 130 herds in 12 states have been infected by the H5N1 virus. “We’ve successfully taken lessons learned during COVID-19 and used them to better prepare for future public health crises,” says HHS Secretary Xavier Becerra (bah-SEHR-ah). “As a part of that, we continue to develop new vaccines and other tools to help address influenza and bolster our pandemic response capabilities.” HHS also says the funding was made available through the federal-level Rapid Response Partnership Vehicle and allows Moderna to enhance vaccine response capability.

USDA Cuts Brazil Soybean Outlook

Soybean production in Brazil, the world’s largest exporter, was revised downward by the USDA’s attaché office in Brazil after flooding in the state of Rio Grande do Sul. Successful Farming says about 180 people were killed, and roughly 2.4 million were affected by the flooding in southern Brazil. Fields were underwater for weeks after the floods that started in April. Production in the 2023-2024 marketing year is now forecast at 150 million metric tons, a drop of two percent from the previous report. Flooding in the states of Mato Grosso, Mato Grosso do Sul, Parana, and Sao Paulo also contributed to the reduction. The total planted area for soybeans in Brazil in the current marketing year is projected at 113.2 million acres (45.8 million hectares), one percent higher than the previous outlook. CONAB, Brazil’s National Supply Company, forecast a planted area of 46 million hectares last month, and Agroconsult expected 46.4 million hectares.

Friday Watch List

Markets

USDA's weekly export sales report is due out at 7:30 a.m. CDT Friday, the same time as employment data from the U.S. Labor Department. One day after the Independence Day holiday, U.S. grain and livestock futures resume trading at 8:30 a.m. CDT and will have their normal closing times. CFTC data, normally released on Friday afternoon, will not be issued until Monday afternoon.

Weather

A system moving through the Midwest is pushing a front from the Ohio Valley down into the Delta and Southeast for Friday and scattered showers and thunderstorms are forecast over a wide area due to it. A system moving through the Canadian Prairies and Northern Plains will bring more isolated showers and storms through. Milder air is being dragged southward and eliminating the extensive heat we have seen over the last few days across the southern tier while heat is building up in the West.

Farmer Sentiment Drifts Lower in June

Farmer sentiment lowered in June as the Purdue University/CME Group Ag Economy Barometer reading of 105 was three points below May’s level. The overall drop in sentiment was due to a five-point drop in the Index of Future Expectations, which dropped to 112, while the June Current Conditions Index increased to 90, one point higher than the May index. High input costs, the risk of lower prices for their products, and rising interest rates continue to weigh on farmer sentiment. The impact of rising interest rates on their farms has become a bigger concern for producers in recent months. Interest rates and high breakeven levels combined with concerns that crop and livestock prices could weaken are holding back producer sentiment and making producers cautious about making large investments. The Farm Capital Investments Index dropped by three points to a reading of 132. The Long-Term Farmland Value Index dropped seven points.

USDA Releases Proposed Updates to FMMOs

The USDA released updates to the Federal Milk Marketing Orders. The 332-page proposal released on Monday would restore a rule that makes the Class 1 milk price the higher-of the price of Class 3 and Class 4 for a month. After an initial reading of the proposal, the National Milk Producers Federation reacted positively. “We’re heartened that much of what we proposed after more than two years of policy development, and another year of testimony and explanation, is reflected in USDA’s recommended FMMO modernization plan,” says NMPF President and CEO Gregg Doud. “Crafting an effective milk-pricing system for farmers is complex and requires a careful balance.” He also says USDA’s plan acknowledges that complexity, and while it doesn’t match the Federation’s proposal in every detail, Doud says it looks largely in keeping with the comprehensive approach painstakingly determined by the work of dairy farmers and their cooperatives over the past three years.

Cattle Producers Attend the 2024 Beef Leaders Institute

From pasture to plate, it takes multiple links in the value chain to bring Americans the hamburgers they throw on the grill this Fourth of July. Each link is integral to the success of others, one of many important takeaways for the 25 Angus producers selected to attend the 2024 Beef Leaders Institute. The American Angus Association and Certified Angus Beef host the annual program to develop young cattlemen and women as industry leaders. “Sometimes producers get so focused on raising high-quality cattle that it can prevent them from having a better understanding of how they impact every step along the way to the consumer,” says Kara Lee, director of producer engagement at Certified Angus Beef. “They’re the beginning of the food chain.” The five-day tour started at the American Angus Association in St. Joseph, Missouri, and traveled to six states before finishing at the Certified Angus Beef headquarters in Ohio.

Celebrating the International Year of the Woman Farmer

Women are responsible for roughly half of the world’s food production. The United Nations’ designation of 2026 as the International Year of the Woman Farmer gives the world a chance to highlight and celebrate the incredibly important role women play in ensuring global food security. It’s a time to underscore and address the various social and economic challenges that women in agriculture face worldwide. USDA Undersecretary for Trade and Foreign Agricultural Affairs Alexis Taylor says they’re proud of the agency’s role in leading efforts to introduce and generate support for the resolution that was co-sponsored by 123 other nations. It was passed by the U.N. General Assembly in May. “This marked the first time in history that the United States was the lead sponsor of an ‘international year’ at the U.N., demonstrating just how important the role of women in agriculture is to our department, nation, and the world,” Taylor says.